Foreign Exchange Live provides expert advice on international payments and is a useful tool for anyone transferring money overseas and seeking competitive exchange rates. Many people turn to their bank when looking to send money internationally or dealing with foreign currency due to branding, positioning, perceived security, and the fact that the majority of consumers and businesses have a pre-existing relationship with them, however this reliance on banks is slowly declining due to the increasing popularity of alternative providers
It is widely recognised that Banks do not offer the most efficient, cost effective or innovative international payment solutions, neither is it a core product or service for their business. Banks tend to charge a relatively high fee for each transaction, plus a high margin when calculating the exchange rate, and use relatively expensive payment methods
Foreign exchange and international payments is one of the few services to fully evolve and move online. This along with globalisation and changing demographics accelerating the size of the market has meant that specialised Foreign Exchange brokers have had the opportunity to grow and increase market share and become a recognised and accepted form of transferring money internationally.
Foreign exchange brokers are businesses that specialise in offering currency payment and risk management solutions to businesses and individuals, utilising industry standard products such as Spot transactions, Forward Contracts and Limit Orders – see the related articles in the Currency Transfer section
The foreign exchange and international payments industry is highly regulated and subject to a number of registration and regulatory frameworks from HMRC and the Financial Conduct Authority (FCA), which provides peace of mind to consumers regarding the safety and security of their money
Foreign Exchange Live has partnered with a highly reputable and regulated Foreign Exchange provider to help you manage the process of transferring funds overseas at competitive exchange rates
Whatever the reason behind your international transfer, Foreign Exchange Live can guide you through the process and leave you confident that you are getting value for money